Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 94,254	$ 207,785
Trade accounts receivable, less allowances of $17,009 in 2019 and $15,469 in 2018	593,809	566,256
Inventories	297,611	274,285
Other current assets and prepaid expenses	71,230	61,321
Total current assets	1,056,904	1,109,647
Property, plant and equipment, Net	798,868	748,657
Goodwill	550,270	535,979
Other intangible assets, net	196,785	206,242
Deferred Income Tax Assets, Net	41,836	36,978
Non-current deferred tax assets, net	210,397	194,198
Other non-current assets	169,886	151,818
Total assets	2,814,549	2,789,321
Current liabilities:
Trade accounts payable	175,801	185,592
Accrued and other liabilities	196,834	166,118
Accrued compensation and related items	179,252	155,402
Contract with Customer, Liability	149,106	122,489
Taxes payable	89,017	69,043
Short-term borrowings and current maturities of long-term debt	50,317	55,868
Total current liabilities	840,327	754,512
Long-term debt	1,284,174	1,235,350
Non-current deferred tax liabilities	34,448	45,267
Other non-current liabilities	372,925	333,412
Total liabilities	2,531,874	2,368,541
Commitments and contingencies (Note 16)
Shareholders’ equity:
Preferred stock, $0.01 par value per share; authorized 10,000,000 shares	0	0
Common stock, $0.01 par value per share; authorized 125,000,000 shares; issued 44,786,011 and 44,786,011 shares, outstanding 24,125,317 and 24,921,963 shares at December 31, 2018 and 2017, respectively	448	448
Additional paid-in capital	805,140	783,871
Treasury stock at cost (20,660,694 and 19,864,048 shares at December 31, 2019 and 2018, respectively)	(5,283,584)	(4,539,154)
Retained earnings	5,095,596	4,499,288
Accumulated Other Comprehensive Income (Loss), Net of Tax	(334,925)	(323,673)
Total shareholders’ equity	282,675	420,780
Total liabilities and shareholders’ equity	$ 2,814,549	$ 2,789,321